There have been 3 eras of currencies – the first was based on commodity, the second on political motives and now it is the age of currency based purely on Arithmetic – Cryptocurrencies.
With the cryptocurrency community receiving adulation from all over the world, one name has shone brighter than the others. The name of this global settlement network is Ripple and it is deemed to boost global liquidity of money by permitting transfers across the globe to happen at record speeds and fees.
Ripple has reduced the old system of transferring money via SWIFT or Western Union to something of the past.
After proving itself to be a great platform, Ripple is now fixated completely on collaborating with banks, presenting them with a more effective and lucrative way to direct immediate payments globally.
How many Ripple coins are there to be bought?
There are around 100 billion XRP tokens existing at the moment. Ripple holds a whopping 61% of it. Since the company holds the majority of the tokens, in order to further strengthen investor assurance, Ripple has sealed up 55 billion XRP with 55 canny contracts. One after the other, each contract (each contract holds 1 billion XRP) expires once-a-month through the time period of 54 months.
Till date, Ripple has used up about 300 million XRP every month for the past 18 months in order to manage expenditures. This operative transparency ought to give cynical investors a cause to believe that Ripple is a long-term player in this game and investors will not profit from selling their assets, thus plunging the worth of XRP.
How to purchase Ripple tokens?
Reputed financial institutions and predictors have predicted a solid future for Ripple. The major cause behind Ripple’s big success has been the state of the art technology employed by the platform, a factor that has majorly contributed to the many achievements of this platform. These achievements and widespread attention have encouraged Ripple to increase 3800% in value in a span of less than a year.
So how to board this train which seems destined for success? Just like other major cryptocurrencies, Ripple is accessible on numerous different exchanges. Analyzing the Ripple website, while keeping in mind the processes behind the purchase of other major cryptocurrencies, here are some ways to purchase XRP, which is Ripple’s cryptocurrency token, through a few of those exchanges.
Buying XRP on Bitstamp
Here are the trading pairs provided by Bitstamp –
In order to purchase XRP on this exchange, the user will be first required to generate and authenticate an account with Bitstamp. To open an account, these steps need to be followed:
- Visit the Bitstamp website
- Carefully read the guidelines, following the instructions to confirm the
user’s registered email ID
- Set up the account for activation
- Log in to the active account
- Follow the additional set of instructions to protect and validate the
These were the initial steps through which you can open up the account. Now in order to be able to carry out financial transactions with the newly active account, these steps need to be followed:
- Using the link entitled ‘Deposit’, the user should deposit funds in the front page of the account
- Once the deposited funds have been accredited to the user’s Bitstamp account, he or she will get a notification from the exchange
Once these steps are completed, the user can then acquire Ripple on Bitstamp by choosing the right market for his or her currency. The order will be completed in the main account.
Buying XRP on Kraken
- Kraken is another highly reputed cryptocurrency exchange that can be used to buy XRP. Users intending to do so need to follow these steps:
- Visit the Kraken page in order to sign up for an account
- Follow the validation guidelines and instructions
- After confirming the account, log into the newly active Kraken Account
- Deposit funds into the account by clicking on the Deposit link, filling up necessary information (mode of payment, card number, and so on) and depositing a sum of money into the Kraken Account
- XRP on Kraken is not directly sold; in order to buy it, the user first needs to buy XBT
- Place the order to buy XBT, keeping in mind the rates and prices
- After the initial order, another order needs to be placed putting to use the offered XRP/XBT currency pair
Following these steps will allow the user to complete his or her transaction for XRP.
Buying XRP on GateHub
Just like the other two exchanges previously mentioned, to buy XRP with GateHub, a user will initially be required to visit the GateHub website in order to sign up for an account. Here is a look at the major steps:
- Store the recovery key with which verification of the account can be done
- Confirm the account through email as instructed.
- Sign in but only after keeping all necessary documents which could be required to verify the user’s identity handy in order to start conducting transactions
- The user will be required to connect a gateway for him or her to be able to deposit funds.
Once the funds have been deposited, the user will be able to buy XRP on the
page entitled, “Exchange”.
While these three are great platforms to purchase XRP, here are some other
noteworthy websites to shop for XRP:
Ripple is not very popular on Chinese exchanges.
Ripple is speedy, with dealings settling in under four seconds. It can be put to use to purchase ordinary items, with the assumption that it is accepted by both traders and users globally. Furthermore, Ripple is highly scalable, as it frequently manages a thousand transactions per second.
Buying Ripple tokens and buying into this concept, is like buying into the future. Someone who acquires the XRP is likely to earn enormous returns on investment, more so if Ripple continues to progress in the banking sector.